When Gary Hamel – recently ranked by the Wall Street Journal as the world’s most influential business thinker, and Fortune magazine has called him “the world’s leading expert on business strategy – writes, then it’s usually worth reading. His recent Wall Street Journal Blog about innovation had some interesting observations about limits to innovation in a company. How does your organisation stack up?
“What limits innovation in established companies isn’t a lack of resources or a shortage of human creativity, but a dearth of pro-innovation processes. In too many organizations one finds that . . .
> Few, if any, employees have been trained as business innovators.
> Few employees have access to the sort of customer and industry insights that can help spur innovation.
> Would-be innovators face a bureaucratic gauntlet that makes it difficult for them to get the time and resources they need to test their ideas.
> Line managers aren’t held accountable for mentoring new business initiatives or lack explicit innovation goals.
> Innovation performance isn’t directly tied to top management compensation.
> The metrics for tracking innovation (inputs, throughputs and outputs) are patchy and poorly constructed.
> There’s no commonly agreed-upon definition of innovation and hence no way of comparing innovation performance across teams and divisions.”
Rea the whole article here